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in washington, d.c. and an example of a dysfunctional process. that threatens our economy and millions of people across our economy. pete: is stalemate in washington stifling the economic recovery? joining us this thanksgiving week, peter baker of "the new york times." molly ball of "the atlantic." and jim tankersly of "national journal." >> award winning reporting and analysis. covering history as it happens. from our nationas capital, this is "washington week with gwen ifill." produced in association with "national journal." corporate funding for "washington week" is provided by -- >> we know why we're here. to chart a greener path in the air and in our factories. to find cleaner, more efficient ways to power flight. >> and harness our technology for new energy solutions. >> around the globe the people of boeing are working together. to build a better tomorrow. >> that's why we're here. >> this rock has never stood still. since 1875, we've been there for our clients through good times and bad. when their needs changed, we were there to meet them. through the years, from insurance to investment
to strengthen their muscle is when the economy is good not when it is uncertain and tough. >> so there could be a backlash from unions pushing businesses to the max because if trying to support jobs and get better benefits they may in fact be taking workers out jobs. >> any are. look what business is doing, moving with their not. if you look where business is moving in the united states --. >> one example is hostess 18,000 jobs when the unions pushed them. they are gone. >>guest: hostest. airlines. boeing. up-and-down corporate america. that is why businesses are moving to right-to-work states. the states that are getting the most movement of their businesses it is so that those states that have right-to-work states. i am not saying they shouldn't have unions, but it is the wrong time to kick business when jobs are scarce and the economy is tough. >> but unions have been in powered, vicinity they, they won the presidential candidate. some leaders say they will push congress ma make unionizing eitherrer. is this the time to push back. >>guest: they are in favor right now, the ear of the admin
economy. and correspondent steve brown kicks off our coverage tonight. >> and on thanksgiving thursday to be first in the doors at midnight on plaque friday. >> and the unofficial start of the holiday shopping season. >> we have our route. >> and toys "r" us, target, home goods. >> kohl's, breakfast. >> black friday is definitely the kickoff to the playoffs for us, if you think of it as a sporting event and it's a big day, we always want to come out really showing our guests what we have here and have a great start to the playoffs, yeah. >> and with retail sales a huge factor in the not steady u.s. economy, the shopping is encouraging. >> we expect sales to rise 4% this year, a little lower than last year, but you know, we think we really believe that consumers are feeling a lot more confident this year. >>, but for all the folks battling the black friday crowds, do they get the best prices. >> sometimes i think you can get a better deal other times, black friday is kind after gimmicky things. up to a third of the door busters items today were cheaper earlier in the year and as far as
that could very well damage the economy. but the air of compromise among some notable republicans is definitely grabbing attention. the republicans' comments quickly caught fire. >> i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> a pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed and the economic situation is different. >> i'm not obligated on the pledge. i made tennesseans aware, i was just elected, that the only thing i'm monitoring is the oath that i take when i serve when i'm sworn in this january. >> reporter: gop lawmakers bluntly stating to alert the fiscal cliff, they're ready to break from grover norquist and the pledge he's got most republicans to sign to never raise taxes. norquist waste nod time hitting back on cnn's s"starting point" >> it doesn't pass the laugh test. if you want to go to your voters and say, i promised you this and i'm breaking that problem, you can have that conversation with them. but you don't have an argument with me. you've made a c
the dangers of going over the fiscal cliff and what that means for our economy, that there's too much stubbornness in congress, that we can't even agree on giving middle-class families a tax cut, then middle-class families are all going to end up having a big tax hike. that's going to be a pretty rude shock for them, and i suspect will have a big impact on the holiday shopping season, which in turn will have an impact on business planning and hiring, and we can go back into a recession. >> sean: republicans hate big beared and santa claus. don't buy this hype, such as letting the bush cuts expire, are not the answer to tackling this deficit. in fact, during the 2012 fiscal year the federal government cost $9.7 billion to run each and every day, but the additional revenue from letting the bush tax cuts expire only amounts to around $82 billion a year, meaning the government would be funded for a whopping 8.5 days if in fact the president wins this fight. sadly the real reason we've reached this point is because our elected representatives simply have no idea how to stop spending your m
's the one that's most beneficial for our economy. >> reporter: larry, what i would say is tax increases does not necessarily, despite the rhetoric on both sides, and especially from democrats, does not necessarily have to mean increases in tax rates. it is possible, if you look at the estate tax, if you look at the treatment of dividends, capital gains and carried interest and take a look at loopholes and deductions to raise a significant amount of revenue from people at the top without changing the marginal rate, layery. >> very interesting. we're going to have senator tom coburn on that very subject later in the show. many thanks to john harwood coming from washington, d.c. now, with everyone in washington talking tax hikes, whatever happened to spending cuts? that's really my question. spending cuts and limited government and private sector free enterprise and growth. here now is cnbc contributor and democratic vat gist keith boykin, a former clinton white house aide and best selling author and talk show host larry elder, out with a new took, "dear father, dear son." larry already the sho
return to a normal economy that returns about 18.5%, that would increase revenue an additional over $400 billion per year, that's $750 billion of revenue per year through economic growth. and the president, his proposal would raise 1/10 of that but would put at risk the economic growth and that $750 billion. so -- >> sir, with all due respect, though -- >> counterproductive. >> that's an answer to the question. there's nothing you see over the next 35 days that would have you break that pledge with grover norquist? >> no, because raising taxes harms the economic growth. you get ten times the revenue by economic growth rather than punishing success. and, again, all of us are saying president obama, show us your plan for restraining the size of government, that's the main problem. again, his revenue proposal would raise $68 billion when we have over $1 trillion worth of deficit. where's the other $1 trillion in his balance plan? mr. president, show us your plan. >> sir, one thing, mitch mcconnell has said that revenue is on the table as long as entitlements would be on the table. conductin
's entire economy. we can't afford it and we can't afford to leave it intact. so try as they might, remember the last congress republicans passed a lot of bills out of the house of representatives that tore apart obama care. as even the president calls it now. they didn't go anywhere in the senate and meanwhile, alex, after the thanksgiving break, the principles are expected to get back together to begin negotiating in earnest. as you're right the clock is ticking. just a little bit more than one month to go before the nation heads over that fiscal cliff. al alex? >> 38 days and counting. thanks so much. let's go from the white house to the middle east now. palestinians and israelis are keeping a cease-fire alive. but many call the truce extremely fragile. an attempted border breach threatened the calm yesterday. israeli forces shot and killed a palestinian man. he was one of hundreds testing israeli security at the border. nbc's martin fletcher is live for us in tel aviv. good saturday morning to you, martin. can this shooting jeopardize the cease-fire? and then when does the next phase beg
assess what makes consumers spend, and what impact all those purchases have on the economy. >> brown: we have two stories about continuing unrest in the middle east, beginning with the political crisis in egypt. >> suarez: then, in her final report from turkey, margaret warner looks at the growing clout of syria's kurdish minority, and the impact that's having on the other side of the border. >> brown: when does a co-worker count as a supervisor? that question was before the supreme court today in a case about harassment. marcia coyle explains. >> suarez: and we examine new figures from the pew research center showing that young voters played a decisive role reelecting president obama. >> brown: that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. an
't heard before. could christmas actually be bad for the economy? d? on black friday, it doesn't matter, as long as we end up here at 5 a.m., or at, starting thursday. where prices have been cut, chopped, and sanded... on the most powerful tools that cut. ...chop... ...and sand. so we, or somebody on our list, can do the same. more saving. more doing. that's the power of the home depot. the early bird gets a special buy on a ryobi two-piece lithium-ion kit, just $99. >>> it's being called the thanksgiving creep. a record number of stores are getting a jump-start on the holiday shopping season by opening their doors tonight. nbc's kevin tibbles is live in chicago for us. he's getting ready to shop till he drops, always ready to do the deed for work. so, what you got there? how bad is it going to be out there today? >> alex, if you think i'm going to be in a mall today, you've got me confused with the other 83 million kevin tibbless who aren't in the phone book. but it is thanksgiving. happy thanksgiving to everyone. for those of you who do have that sort of deal bug, well,
, we will ask a business expert what fewer shoppers means for the overall economy. rick: shifting gears now overseas, the hamas terrorist group is accusing israel of breaking the ceasefire rules agreed to only a couple of days ago, two days after a truce was reached along the israel/gaza border. the shooting death of a palestinian man today could threaten the already-fragile agreement. conor powell is live in jerusalem with the very latest. >> reporter: well, rick, given that the level of trust between israel and hamas is so low, expectations for this ceasefire were even lower. but it appears to have passed its first major hurdle. earlier today several hundred palestinians went to the border between gaza and israel, some reportedly there to check on land across the border in israel, others were, no doubt, hamas sympathizers testing the ceasefire. but as israeli trooped told them to back off from the border area, they refused, and israeli troops opens fire killing one palestinian. both israel and hamas accused the other ofhe ceasefire agreement, but neither side took steps to escal
's economy has continued to grow while the rest of europe has slowed. >> that growth is now so minimal that economists say 2013 next year could see a return to recession. still, german businesses shrugging off that possibility. >> business managers are upbeat about their future. >> german business leaders are optimistic that exports will remain strong, and the latest figures back that up. consumer confidence is also surprisingly robust. all the talk of a crisis in the eurozone does not seem to have dented people's desire to shock, but growth overall is beginning to falter -- the talk of a crisis does not seem to have dented people's desire to shop. the eurozone as a whole has fare worse with zero growth at the start of the year and then downhill from there. that has a knock on effect for german companies. so far, though, the german economy is weathering the storm. >> that news sent stocks in germany higher in what has been a bit of a winning streak recently. our correspondent has more from frankfurt. >> traders did not spend much time looking back on the slowdown of the german economy,
nations want a five-year extension. they argue major economies may not be able to agree to severe reduction targets over the long-term. japanese delegates say they will not join the extended protocol. they want to continue using something called the clean development mechanism. it allows rich countries to earn carbon off sets by providing nds and technology to poor nations to help them reduce their emissions. >>> the people in charge of the site of the world's worst nuclear accident say they have taken a big step in cleaning it up. workers have raised part of a permanent shelter around a reactor at the nuclear plant in chernobyl. the area around the plant is highly contaminated. the workers raised an arched section that will surround the destroyed unit. the number 4 reactor was covered with a concrete and metal structure after the explosion in 1986. the so-called stone coffin deteriorated and could release radioactive substances. they began believe the new shelter in april to go around it. it is 250 meters wide and 105 meters high. government officials say engineers designed the s
to go into the real economy. >> as we saw in our report, greeks are out protesting against this deal. what with the public like to see instead? >> i think the biggest thing they would like is some sense that the unemployment issue is going to be addressed. the protests we saw today were mainly involving municipal workers, city hall workers. not just in athens, as about 2/3 of city halls around the country were shut. many of those workers will be laid off between now and the end of the year. the government is finding it very hard to get the mayors of those city halls to send in the list of names of people who have to be laid off. >> thanks so much for the update. germany is a top lender to greece, and lawmakers are expected to approve the release of berlin's contribution immediately. still, there are deep suspicions that talks of a debt write-down have been delayed until after next year's german elections. >> the deal would be put to vote on thursday or friday. >> it is not an easy sell for the defense of the idea of letting greece buy back its bonds at below market value. >> it is im
have to give a comprehensive bill. >> our economy right now needs skilled workers, about people who want to come here and we should fix the system that's broken and not only that family friendly and keeps families together and some families have one member of the family come here on a green card and they have to wait several years before they're reunited and this bill corrects that. >> they can't work once they get here, but they can come and be with their families. >> gentlemen, thank you so much, good see you both. >> thank you. >> pope benedict xvi, elevating six new cardinals today. you may remember he elevated cardinals last february, but the new group is made up entirely of non-europeans including one american. and today's choice will help choose his successor. >> and with the crowning of the six new cardinals, appropriate benedict is it putting his seal on the papacy and decades to follow. appointing well over half the men who will vote for his successor. while all are fairly young, the cardinals stand out for what they're not. they're neither european or italian. and the car
at this time, in fact, the president even said a couple of years ago, it harms the economy. we are trying to help the economy. and, so, unless i can be convinced that raising tax rates will be beneficial, then obviously i think there's reason and ground for my position. but, i also believe that we can and must get an agreement, otherwise i think first of all, the markets are going to start reacting. >> chris: we'll talk about that in the next segment, and i think it is a real issue. finally, let's talk about the g.o.p. republicans, i don't have to tell you, had a really rough night on election night. and let's look at the break down of some of the numbers. you lost unmarried women by 36 points, hispanics, by 44 points. young people, by 23 points. does your party need to change, especially, with those groups, on social issues like same sex marriage and immigration reform? >> i think we have to have a bigger tent. no doubt about it. and, obviously we have to do immigration reform. there is no doubt whatsoever that the demographics are not on our side. and, we are going to have to give a muc
economy and how do we get us back to that and, two, how do you solve a problem? >> second big development. a growing number of liberal democrats say they're willing to risk going off the cliff to make sure raising taxes on the wealthy is part of the deal. politico is calling them cliff jumpers. l good morning to both of you. >> good morning. >> let me play a couple of clips to start out about the pledge. >> i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> a pledge you sign 20 years ago, 18 years ago, is for that congress. if i were in congress in 1841 i would have supported declaration of war against japan. i won't attack japan today. the world changed and the economic situation is different. >> i am not oblg gate on the pledge. i was just elected. the only thing i am honoring is the oath that i take when i serve when i am sworn in in january. >> chambliss already made a similar statement last week. the question is is this a real softening of positions? does it give them room to make deal. >> two things.
, it could have serious consequences on the economy. >> i want to ask you both to weigh in on this question. kristen, you do the political angle and neil you give me the nuts and bolts. yesterday john boehner wrote an op-ed calling for the health care law to be part of the negotiations, he wrote in part the president's health care law at the massive, expensive, unworkable program when the national debt exceeds the size of our country's entire economy. we can't afford it, and can't afford to leave it intact. is john boehner right? >> no. look, it's a law that does a lot of things with the health care system. it's not predominantly a fiscal issue, in that that when the government does anything, it affects taxes. if you're the president you have no incentive to allow the health care law to be on the table in these negotiations. maybe on the edges there are a few spending programs you're willing to negotiate over. but in terms of the health insurance mandate and exchanges, all the things in this complicated law that passed two years ago, you're really going to draw the line and say, we're not g
: ♪ ♪ ♪ moving our economy for 160 ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy productive life. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> brown: demonstrations, clashes with the police, and tear gas in tahrir square-- familiar scenes in egypt nearly two years ago that led to the fall of longtime leader hosni mubark. but today, they were aimed at egypt's new leader. in the coastal city of alexandria, opponents set fire to the offices of president mohammed morsi's political party, the muslim brotherhood. there and elsewhere in egypt today, the president's critics and supporters clashed in the streets over his decree yesterday exempting himself from judicial review, and giving him authority to take steps against "threats to the revolution." morsi, egypt'
's no connection between our scientific understanding of the age of the earth and the economy. >> let me direct you there. let me disript you there and read you that quote because this was another part of his answer to gk saying that's a dispute among theologans and it has to do with with the economic comment or the united states. i think the age of the universe has zero to do with hour our economy is going to grow. what do you make of this. >> the reason we have smartphones and televisions is we're able to talk on opposite sides of the content. the classic thing for me is smoke detectors. we understand the nuclear reactions. without that deep understanding we wouldn't have everything that you can touch and see in our viern. so this claim that has nothing to do with the economy is just wrong. i'm not going after anybody's religion. that's not it. just the earth is not six or 10,000 years old. that's not. and furthermore, we rely on this -- on these discoveries for our everyday life, especially here in the developed world. >> bill nye's opinion there. >>> one trucker is lucky to be alive. take a loo
will require to help its economy recover. >> eliot: that is the balancing act that prime minister morsi is trying to effect wait here. in essence for his economy to come back, he knows he needs the united states. he needs peace. a war would be devastating to what long-term he has to care about. is that, in fact, the leverage that secretary of state clinton has with morsi in saying to him you have got to lean on hamas to stop this and somehow we will navigate through this in the coming months but it seems to me that morsi has made himself a central figure in this process. >> well, sure. i suppose the difficulty for president morsi is hamas is the key actor in this equation but obviously there are other groups resident in gaza that perhaps even hamas does not completely control. so when you get to that aspect of assurances, prime minister netanyahu wants a period of calm before he signs a truce. obviously gave that point -- it is very challenging. eliot, the other aspect as your opening clip of hillary clinton underlined is th
that are behind these numbers are relate primarily to the economy and as we all know the economy is still sluggish but there is improvement. >> aaa estimates that 40% of travelers left the day before thanksgiving and 36% returning today and 25% tomorrow. it could be a long journey home. this is what it looked like on the 405 on los angeles on the big get away day with traffic backed up for miles. and on thanksgiving morning as drivers headed out on i-10 east in beamont, texas. a husband and wife were killed and 100 injured and the trail of wreckage stretched for two miles. forecasters say more fog and snow in parts of the midwest and northeast could make it trougher getti tougher getting home after a long holiday weekend. >> reporter: again, as this afternoon goes on, we're going to see the traffic build on this road. about a 10% drop, alex, than they spent last year. >> michelle franzen there. here's a big question. will the weather cooperate for travelers out there? here with the travel forecast to answer that for us is dylan. >> most areas will cooperate. you're just dealing with the traffic as
that would avoid that potentially devastating fiscal cliff that is looming over the u.s. economy right now. the president is meeting with small business owners at the white house today. he had a series of meetings with different business leaders over the last week. despite the warnings that the talks are stalling on capitol hill stuart varney joins me now, host of "varney & company" on fox business network. >> good morning, martha. bill:. martha: what are you hearing how this is going? >> it is impasse basically. the republicans said yesterday they accommodated the democrats they will agree to get more money from wealthy people from higher taxes but mitch mcconnell, senate republican leader, he says there has been no similar compromise from the democrats or the president. he says they are still holding out for higher tax rates on the rich and he says the radical left is prescenting the democrats and president and agreeing to serious reform from medicare. martha, i have to tell you. i got new numbers from medicare, from trustees, actually. medicare has to pay out in the future $42 trillion.
government it will pay for, regardless of the impact on jobs or the economy, or america's standing in the world. these are the ones who have recklessly ignored the fact that we can't keep running trillion dollar deficits every year and throw a tantrum if someone suggests that maybe the taxpayers shouldn't keep subsidizing ever last program washington ever dreamed up. they are reckless and ideological approach threatens our very future. and anyone who is serious about solving the problems we face should ignore all of that starting with the president. megyn: meantime some of the president's supporters unleashed and ad blitz targeting key lawmakers reportedly spending close to $300,000 on an ad buy that talks about increasing taxes but leaving spending alone. here is part of that. >> how do we move our country forward and reduce the deficit, by creating jobs and growing our economy not by cutting programs that families rely on most. megyn: join me now is stu varney, who is host of varney & company. and chris stirewalt. you have all the unions unleashing and ad blitz to target the home
will about the state of the economy but americans didn't hold back this holiday weekend. a record number of shoppers were out there, 247 million in all. the amount spent per shopper last year, total spending was up, online sales was up too. that doesn't include all the online spending about to happen tomorrow. we begin with kristen dahlgen at a mall in california. kristen. >> reporter: good evening, kate. those door buster deals may be gone but the shoppers aren't. you can see them up here wrapping up a retail at the national retail federation is calling as impressive as we've seen. from the moment doors opened thursday before the thanksgiving dishing were even done until they close tonight almost a quarter billion shoppers will have been online or in stores. >> put my sneakers on and go for it. >> reporter: shopping started earlier than ever. in spite of the employee protests, the early opening paid off. more than 35 million shopped on thanksgiving. six million more than last year. black friday was big too. 89 million brave the crowds in search of those hard to beat bargains up from 86
to cripple the syrian economy. eight round-trip flights between moscow and damascus delivering more than 200 tons of, quote, bank notes into syria. u.s. and european sanctions include a ban on syrian currency in an attempt to slow the violence that's killed thousands of people. syria and russian officials have so far not responded to the reports. >>> overseas tens of thousands are rallying today in cairo's tahrir square protesting what they view as a blatant power grab by president mohamed horsey. with tensions mounting yesterday, morsi appeared to soften his controversial attempt to award himself near absolute power above the reach of the law. in a vaguely worded statement, morsi spokesman backtracked slightly saying that only acts of sovereignty would be immune from oversight. >>> well, u.s. consumers went big this weekend for small business saturday. millions of holiday shoppers spent a total of $5.5 billion during the third annual local business shopping event. mika spent half of that in the south of france. and that's not even counted in that tally. for more on the holiday shopping seas
is getting his economy back on track and to do that he needs the help of the international community and the united states. so he's got to carefully try to balance these two issues. i think he recognizes that a conflict along, you know, egypt's border with israel is not in egypt's interest any more than it's in israel's interests. so -- but these are people who have long been in opposition and they're having to learn to balance these political calculations as they go forward. >> right. and there's no rest after election day when you're the active president. p.j. will stay with us as we turn to another discussion right on point with president obama's foreign policy team. many republicans are attacking ambassador susan rice, a top candidate to replace secretary of state clinton. the senate has spiked some key nominations from president obama before, from elizabeth warren to nobel peace prize winner peter diamond. there is one number that suggests obama is likely to win this battle. we will look at the math after the break on "now." so you say men are superior drivers? yeah. then how'd
the economy and if we do that on january 15th and it is a good deal, i would much prefer that over doing a bad deal on december 15th for face-saving on the january 1 fiscal cliff drop dead date. >> eliot: you're among the group that have been called the cliff jumpers. i don't know how you take that phrase but you've been willing to say let's go over the cliff. it will not be as dangerous and as cataclysmic as people are saying. >> i'm in good company. warren buffett. basically this artificial deadline is not a cliff. it is a slope. the bottom line is we've got to get a good deal. something that is sustainable and durable and not hit the panic button and then try to spin what is a bad deal as a good deal because that won't be sustainable after january 1st. >> eliot: that's not only correct on substance. unless we say that, the other side will stick us up and hold us to the deadline and get us to flinch at the end which unfortunately has been the history of the white house in the last couple of years. your wisdom there, i
we can evaluate the markets and evaluate the economy? >> the markets are not going to allow that. the markets now understand very clearly the formation of capital is at risk here. we have a absolutely suffocating mountainous debt that is going to extinguish the private economy in this country. lori: bond market is letting it happen. the interest rates are staying low. >> you're quite right but it is also the most defensive position for money of that dimension to inhabit. when we see a change, then we'll see difference ares in direction and flow of that capital but until then, this is a president and a congress, republican and democrat, that are risking everything through their lack of courage, their lack of principle, and lack of vision and responsibility. these people are playing out like they want to come away from this with a whole chapter and profiles in courage devoted to them. it is not going to happen. this is a profile in cowardice. this is profile in the lack of intellectual integrity and a absolute refusal to be straightforward with the american people. i mean we've got
stores that are struggling in a tough economy. local retailers are looking for a boost they need. and ther joining us from new york with more on this effort. >> anna. >> hey, there. today is small business saturday and carries more significance. and the northeast is still reeling economically from super storm sandy. we are here in long island and the owner said sandy could not have hit at a worse time. she makes 40 percent of the sales and said it will be impossible to make up the sails and is thankful because all of the ventors are letting her delay payment. >> i was in tires actually over that. i was scared. i don't want to lose my credit and good name and repitation. they are sticking by me. >> this business is like your child. >> this is my other home. this is it my other home. >> from staten island to long island ther urging to give back and help neighborhoods devastated by the storm. it is it estimated 100 million people participated in the growing event. and the economic impact and in the 50 billion range and 12 billion in new york city alone and 20 billion. total from los
that a couple of years ago -- it harms the economy. we're trying to help the economy. unless i'm convinced raising tax rates will be beneficial, obviously i think there's reason and grounds for my position. i also believe that we can and must get an agreement, otherwise i think first of all the markets are going to start reacting. >> chris: we'll talk about that in the next segment. finally the g.o.p. republicans had a rough night on election night. let's look at the breakdown of the numbers. you lost unmarried women by 36 points. hispanics by 44 points. young people by 23 points. does your party need to change, especially in its outreach to those groups on social issues like same-sex marriage and immigration reform? >> we have to have a bigger tent. no doubt about it. obviously we have to do immigration reform. there's no doubt whatsoever that the demographics are not on our side and we have to give a much more positive agenda. it can't be just being against the democrats and against harry reid and against obama. you have to be for things. we have to give them the contract with america th
the economy if you raise tax rates on the top two rates. it will hurt small businesses, hurt our economy. >> so let's bring in the political panel on this topic for today. erin mcpike back with us and david goodfriend, democratic strategist and contributor. thank you for sticking around. let's bring in the element of tom cole, a republican of oklahoma. doesn't get more red than oklahoma. let's play what he said regarding support and passing the middle class tax cut. >> in my view, we all agree we won't raise taxes on people making less than $250,000. we should take them out of this discussion right now. >> what is the issue with that? >> well, what congressman cole has really shown is that there's an imminent amount of good logic and sense in preserving the current tax rates for 98% of americans for a lot of reasons. one of which is the gdp dependent on consumer spending. 0% of the economy is consumer spending. if you take $2,000 on average out of pockets of consumers, it's going to hurt the economy so right away you have a low tax good economic rational behind it but there are politics
the economy? >> times are a little better. a little more idea last year. we can definitely spend a little more. not a lot more, but a little more. >> once we have spent enough, we stop. >> i want to make the kids happy, grandkids, that sort of thing. i am going to spend more to make everybody happy. >> that will make the retailers happy too. they have been forced to cut prices to keep hold of customers, and that has hit profits. >> retail has been tricky this year. it is not that the consumer is not spending, but they are spending in spurts. they are distracted by economic issues, political issues, even natural disaster. the consumer has found lots of reasons to spend but then stop. >> come the new year, they may have even less to spend. consumers will likely feel less well-off with coming tax hikes and spending cuts. even more reason for retailers to cash in now. >> for more on the black friday rash, i spoke a brief time ago with a bloomberg tv anger in new york. stephanie, thank you for coming in instead of doing a bit of shopping yourself. >> i am happier to be with you than wrestling at wa
the start of something big for the u.s. economy. 147 million people were expected to shop between friday and sunday. record numbers of shoppers are making purchases on their mobile devices or ipads, and for those who did venture out today, the foot traffic wasn't just at big box retailers but also at mom and pop neighborhood stores, part of a concerted effort to promote small business on this holiday saturday. nbc's michelle franzen has been out in the crowds today, she joins us in front of macy's, the flagship store in new york. good evening, michelle. >> reporter: good evening, kate. consumer confidence has been improving over the last few months, and retailers are hoping that new excitement along with the emotions of the holiday season will translate into a boost in sales. the hunt for deals today paid off for donna bunk, who was just getting started with her holiday shopping in new york city. >> not expecting to get a pair of boots but when you walk past these and they're only $30, how could you go wrong? >> reporter: just the attitude retailers are banking on that the crucial holida
dealing with the economy. 21% replied reforming social security. and 11% cited energy policy, including the use of nuclear power. the disapproval rate for prime minister yoshihiko noda's cabinet hit a record high at 64%. that's a three percentage point increase from a week ago. the approval rate remained unchanged at 22%. voters were also asked who they would prefer as prime minister. the two choices were the incumbent yoshihiko noda, who heads the democratic party, or shinzo abe, leader of the opposition's liberal democratic party. 21% of respondents chose noda. 26% favored abe. but almost half, or 49%, said they wanted neither. >>> japan's top government spokesperson says officials are gathering information in anticipation of a possible missile launch by north korea. u.s. satellite images indicate north korea recently transported what are thought to be long-range ballistic missile parts. japan chief cabinet secretary osamu fujimura says his government closely monitors missile-related activities in north korea. >> translator: we will work harder to gather and analyze information and wi
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